Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 809 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.True or false: “cash from selling plants” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Nisha’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
4. 4.Kavya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹70 (lemons)
   How much is the loss (in ₹)?
5. 5.Gurpreet’s income was ₹340 and the profit was ₹150. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
6. 6.Meera’s income was ₹160 and the profit was ₹130. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
7. 7.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) paying the stall fee
8. 8.True or false: “a card order paid” is an expense (money out). (a) True (b) False
9. 9.Farhan’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.Diya’s income was ₹410 and the profit was ₹320. One expense was ₹80 (ribbon). How much was the other expense, for lemons (in ₹)?
12. 12.True or false: “money from sales” is income (money in). (a) True (b) False
13. 13.📒 Income or expense: bus fare to the market? (a) expense (b) income
14. 14.📒 Income or expense: payment for a cake order? (a) expense (b) income
15. 15.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
16. 16.Aarav’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
17. 17.True or false: “printing posters” is income (money in). (a) True (b) False
18. 18.True or false: “payment for a cake order” is income (money in). (a) True (b) False
19. 19.True or false: “printing posters” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) buying paper cups
21. 21.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) printing posters (d) paying the stall fee
22. 22.Vihaan’s stall took in ₹50 on Friday, ₹90 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
23. 23.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
25. 25.Lakshmi’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
26. 26.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) bus fare to the market
29. 29.Nisha’s stall took in ₹380 on Friday, ₹390 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
30. 30.Tara’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) printing posters
32. 32.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
33. 33.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) bus fare to the market (d) printing posters
34. 34.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
35. 35.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
37. 37.Nisha’s stall took in ₹170 on Friday, ₹290 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.Lakshmi’s income was ₹410 and the profit was ₹70. One expense was ₹230 (ribbon). How much was the other expense, for paper cups (in ₹)?
39. 39.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
40. 40.Arjun’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?

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